KPMG Canada has bought a World of Women NFT #2681 for about $73,000 at existing market prices. This non-fungible token features a figure with blue skin and long curly hair. The purchase marks KPMG Canada’s first step into the rapidly growing asset class.
The global accounting firm, in early February, had added bitcoin and ethereum to its balance sheet. Moreover, it has acquired an Ethereum Name Service (ENS) domain tool. It makes cryptocurrency addresses more user-friendly.
Benjie Thomas, a managing partner at KPMG Canada, in a statement, highlighted that NFTs unlock a new channel for organizations to engage with their customers. It also underpins innovation through the secure digitization of assets. Thomas said the acquisition highlights the firm’s belief in the continued growth of NFTs as well as in the value of WoW and its mission. He said KPMG Canada is well-positioned to guide its clients around building a corporate NFT strategy, acquiring and safeguarding non-fungible tokens.
Nancy Chase, partner, and national risk consulting leader at KPMG, noted that women are underrepresented by all accounts in the world of all things crypto. As such, KPMG is proud to make its first NFT acquisition in a collection that supports women. Chase hopes this will draw more women into a sector that’s on the cusp of changing how people interact with one another in the future.
Kareem Sadek, Cryptoassets and Blockchain Services co-leader at KPMG, believes Web3 will definitely change the way people interact with brands, socialize within communities, and trade digital assets. He sees numerous use cases for NFTs. Sadek pointed out that organizations – from retailers to sports leagues to auction houses and celebrities are adding non-fungible tokens to market their brand, recruit talent, create value, and much more.
Furthermore, the firm’s recent survey highlighted that 53% of Canadians see the NFT market as an opportunity for women artists to promote and monetize their work in ways that weren’t possible before.